Fannie Mae/Freddie Close before Paycheck Received: Will either Fannie or Freddie Mac allow a loan to close before a borrower receives their first paycheck?

Answer: Fannie requires a variance to be able to deliver a loan scenario like you addressed above. Although they do allow you to close the loan without the paystub, you just cannot deliver the loan to Fannie until you have the first paycheck – and many lenders don’t want to hold the loans for an […]

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